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Copper Futures HG1!

Is EURUSD a leading indicator for Copper?Based on their correlation since 2002 we can say that EURUSD is a leading indicator for Copper. Especially since 2010, they both trade within a 1M Channel Down, with EURUSD however respecting the Lower Highs/ Lower Lows more. So with EURUSD on a long term bearish trend towards the 1.0358 support, we expect 2.000 long term for Copper. Technically Copper's 1M is on a pivotal point, being neutral overall (RSI = 53.441, Williams = -49.469, CCI = 9.9212, Highs/Lows = 0.0000) so expect the break lower to take place soon. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
COMEX:HG1!Short
by InvestingScope
Copper: How far will it fall?I have two ideas in mind, bounce at 2.84 ....or bounce at 2.74 (for the optimist bear (me!)) I hope my thinking is clear from the graph (ignore the memelines from earlier, i usually don't publish). In conclusion, i see a solid trend brake and no support in sight Please share your thoughts with me so i can improve :D I have moved my stop loss for my short to 2.88, and i began at 2.9 if anyone cares. WARNING: I am not very experienced
OANDA:XCUUSDShort
by UnknownUnicorn4148911
1
Copper (HG1!) - Aiming for 618 Fib (18% move from January bottomFundamentals: No major supply disruptions occurred in 2018 and most labour negotiations have been agreed. However, overall growth has been negatively affected by lower output at some mines in Canada and operational problems in China, Peru and the United States. As a consequence the ICSG growth forecast for mine production was revised down to 2% compared with the previous forecast of 2.9% made in April 2018. knowing this growth in 2019 world mine production, adjusted for disruptions, is predicted to be around 1.2% and is expected to be impacted by a sharp decline in Indonesian output. Copper also tends to more sensitive to inflation and moves correlated. Inflation base case is mild inflation which should support copper prices. Technicals: Copper had a double top formation in 2018. First peak hitting in January 2018 and second in June. From there the commodity dropped nearly 25% from a high of $3.30 to a bottom in Aug 2018 at $2.50. The metal climbed to its 38.2% Fib extension before trading down for a double bottom technical bounce in Jan 19'. Indicators: Stochastic: Overbought RSI: 69. Near overbought ADX: 23. Bull trend confirmation intact. Copper Bulls have the technicals, momentum and industry production support for a continued bull run in all of 2019. We expect prices to test in 2019 the 618 Fib, which would be a 18% bounce from the January bottom this year at a target price of $3.01.
COMEX:HG1!Long
by UnknownUnicorn1615160
Copper: Sell opportunity on 1D.Copper has been trading sideways on 1W (RSI = 50.950) since late July within a strong 2.5425 - 2.8715 consolidation zone. The price was rejected last Friday on the 2.8390 - 2.8715 Sell Zone and since 1D turned already to neutral CCi = 33.6567, Highs/Lows = 0.00000, a strong sell opportunity is presented. We are taking this short signal with TP = 2.6665. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
COMEX:HG1!
by InvestingScope
2
Copper Futures (HG1!) Summary for End Week 4 - 2019So copper seems to have bottomed twice around the 2.60 area and is trying again to push higher following its rapid demise mid 2018. Technically we can see the chikou san is still below price 'N' periods back and the tenkan san is yet to cross the kijun san to signify the possible start of an uptrend. However it's going to have to push through well set resistance at around 2.74 before hitting further potential resistance at the bearish kumo above. Fundamentally the elephant in the room is of course China and much depends on the on-going trade spat with Trump and the apparent slow down in growth. We still need to keep an eye on the strength of the US$ which seems to be treading water right now. All that said, potential supply constraints are likely to help support price and if two or more of the above conclude favourably, we may well be able to retest the 2018 highs of 3.30 and above. [Do your own research - above not investment advice and for my own analysis, though constructive comments always welcome) WAIT FOR NOW
COMEX:HG1!Long
by mikhem
Copper: Buy opportunity on a 1W Rectangle.Copper has been trading within a long term 1W Rectangle (STOCH = 49.048, Ultimate Oscillator = 49.708) with 2.52850 - 2.53850 as the Support zone and 2.83470 - 2.84595 the Resistance. A repetitive pattern that stands out is a sharp rise that is followed every time after a 1D Lower High sequence breaks to the upside. We are currently close to such an event so we are on a medium term long with TP = 2.78300. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
OANDA:XCUUSDLong
by InvestingScope
HG1!Southern Copper Corporation is an integrated copper producer. It produces copper and, in the production process, obtains several by-products, including molybdenum, silver, zinc, sulfuric acid and other metals. Its segments include the Peruvian operations, the Mexican open-pit operations and the Mexican underground mining operations segment identified as the IMMSA unit. The Peruvian operations segment includes the Toquepala and Cuajone mine complexes, and the smelting and refining plants, including a metals plant industrial railroad and port facilities that service both mines. The Mexican open-pit operations segment includes the La Caridad and Buenavista mine complexes, and the smelting and refining plants, including a metals plant and a copper rod plant, and support facilities that service both mines. As of December 31, 2016, the Mexican underground mining operations segment included five underground mines that produce zinc, copper, silver and gold, a coal mine and a zinc refinery. SCCO HG AMEX:COPX
NYSE:SCCO
by Pokethebear
Copper: 1D Channel Down. Short.Copper (XCUUSD) is trading within a 1D Channel Down (Highs/Lows = -0.0144, B/BP = -0.0590) after having made a Double Top at 2.8400 (late Sep, early Oct). If the previous 2.6887 Lower Low and 1D support is crossed then HG1! should make a new 2.6600 Lower Low and attempt a break out. Otherwise the Channel Down will make a new Lower High near 2.7800 before it attempts to break the 2.6887 Support again. In any case the long term trend as suggested by 1W remains bearish (RSI = 43.931) so shorting every Lower High is the most optimal approach. Our TP is 2.6600 and 2.6000 in extension.
OANDA:XCUUSDShort
by InvestingScope
1
HG1! Is Copper ready to make a move?HG HG1! Copper has been bottoming for quite some time. Economic trends are plumbing/housing, electronics, and EV vehicles, so let's step back and review. * Oversupply for quite some time. * Copper prices are historically peak in December. * Housing/construction build rates for SF/MF/5+units is steady Yr/Yr for 5-yr and slight growth if any. * Electronics is in steep decline from overstock parts and US-China trade war * Electric vehicles are the new growth at 150+ lb. / vehicle for motor windings for copper, trend to continue as EV Class 8 heavy trucks will use 300+ lb. / truck (TESLA/NAV) * Current chart showing upward movement from 618fibretracement to 500fibretracement as positive. Maybe a micro trend without larger scope of current global economy, but something to watch for safe haven opportunities. VIX The yuan hit a fresh 21-month low against the U.S. dollar Thursday, and the Shanghai Composite Index has lost about a quarter of its value so far in 2018. ASX:KRC NSE:HINDCOPPER ASX:NZC OTC:CPPMF AMEX:COPX NYSE:SCCO ASX:CCZ TSX:NCU FWB:COQ OTC:HDRSF CCJ
COMEX:HG1!
by Pokethebear